The data and code released here should be used only for the purpose of replicating the empirical results published in the paper. Any other usages are not allowed without the authors' permission and may constitute violations of intellectual property rights.

Minor differences between the replication results and the published results may occur due to different versions of the R packages used for the analyses (e.g., the fixest package, the rdrobust package). The packages used by the authors were updated on Sep 22, 2025.